HKEX launches new listing regime for Specialist Technology Companies
New listing regime under Chapter 18C and related guidance letter become effective on 31 March 2023.
Background
On 24 March 2023, The Stock Exchange of Hong Kong Limited (Exchange) published its consultation conclusions on the proposed new listing regime for the listing of companies in certain high-growth industries (referred to as Specialist Technology Companies and Specialist Technology Industries respectively) on the Main Board of the Exchange through amendments (Amendments) to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (Listing Rules) to introduce the new Chapter 18C.
Following its consultation paper in October 2022 (see our previous article here), the Exchange concluded to establish the new regime with slight modifications from its consultation proposals, easing up requirements such as market capitalisation, research and development ratio and benchmark on meaningful investment from Sophisticated Independent Investors.
Read more in our article below.
